Commodities
Korea Set to Reopen LNG Capacity Market Amid Renewed Push for Gas Power
South Korea's Ministry of Climate, Energy and Environment is revamping its liquefied natural gas (LNG) capacity market to make way for new construction projects. The market was first opened in 2024 but has been dormant since last year.
The ministry plans to launch a working group to redesign the system and seek feedback from district-energy operators through public hearings.
The goal is to reopen the market by the end of this year, allowing for the construction of combined-cycle gas power plants that will supply heat to South Korea's new towns.